Three Months Ended March 31, 2023 | |||||||||||||||||
Gross Profit | Gross Margin | Operating Income | |||||||||||||||
Reported | $ | 21,632 | 39.7 | % | $ | (26,601) | |||||||||||
Adjustments: | |||||||||||||||||
Depreciation and amortization including contract acquisition costs | 1,599 | 2.9 | % | 3,587 | |||||||||||||
Stock-based compensation | 364 | 0.7 | % | 3,386 | |||||||||||||
ERP implementation costs | — | — | 518 | ||||||||||||||
Legal | — | — | 652 | ||||||||||||||
Severance | 119 | 0.2 | % | 315 | |||||||||||||
Other adjustments | — | — | 585 | ||||||||||||||
Total adjustments | 2,082 | 3.8 | % | 9,043 | |||||||||||||
Adjusted | $ | 23,714 | 43.5 | % | $ | (17,558) |
Three Months Ended March 31, 2022 | |||||||||||||||||
Gross Profit | Gross Margin | Operating Income | |||||||||||||||
Reported | $ | 31,788 | 54.8 | % | $ | (13,157) | |||||||||||
Adjustments: | |||||||||||||||||
Depreciation and amortization including contract acquisition costs | 76 | 0.1 | % | 1,079 | |||||||||||||
Stock-based compensation | 459 | 0.8 | % | 4,043 | |||||||||||||
ERP implementation costs | — | — | 3,976 | ||||||||||||||
Legal | — | — | 254 | ||||||||||||||
Total adjustments | 535 | 0.9 | % | 9,352 | |||||||||||||
Adjusted | $ | 32,323 | 55.7 | % | $ | (3,805) |